Pradeep Bakshi appointed MD & CEO of Voltas

The Board of Directors of Voltas Limited, the global air conditioning and engineering services provider of the Tata Group, has announced that Pradeep Bakshi, Executive Director & Chief Operating Officer, will succeed Sanjay Johri, MD & CEO, when the latter superannuates in February 2018. Simultaneously, Anil George, Executive Director (Finance & Corporate Affairs), will be elevated as Deputy Managing Director, with increased responsibilities.

Noel Tata, Chairman of the Board said that the appointments of Pradeep Bakshi and Anil George mark the culmination of a formal succession process at Voltas Ltd, in which MD Sanjay Johri and the Board were engaged for two years to groom the leadership team of the Company.

Noel Tata added that the Company had achieved great success under Sanjay Johri, MD & CEO since 2010. “We are market leaders in the Room Air Conditioning business, with a market share of 22%. Our Net Profit jumped by 30% in FY 2016-17, to reach Rs.511 crores, with ROCE at 21%. And the Voltas share price has grown by 340% in five years, from Rs.120 to Rs.530”.